CBDCs need ‘self-custody’ to achieve inclusion – MIT Media Lab
Self-custody is currently “impossible for state-issued currency in the digital realm”
It remains to be seen whether central bank digital currencies (CBDCs) “once implemented, will help solve for financial inclusion or deepen the digital divide”, Neha Narula said at Davos on June 18.
Narula is director of the Digital Currency Initiative, part of the MIT Media Lab, which focuses on blockchain and cryptocurrencies and has partnered with the Federal Reserve, Bank of Canada and Bank of England on their digital currency projects.
Her comments at the World Economic Forum come after
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